Guideline Value for Periyar Street

Periyar Street guideline value

The current guideline value of Periyar Street in Tondaiarpet village, under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Periyar Street has changed

The guideline value for Periyar Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, it saw a decrease to Rs 804 per sq.ft in the 2017 revision. The value then rose to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,300 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

Between the revisions, the changes are notable. From 2007 to 2012, the value increased by 100%, followed by a decrease of 33% from 2012 to 2017. The value then saw a significant increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, placing Periyar Street's 2024 figure below this median.

• Periyar Salai: Rs 1,300 per sq.ft (2024)
• Perkins Lane: Rs 1,300 per sq.ft (2024)
• Periyar Nagar Cross Street: Rs 1,300 per sq.ft (2024)
• Periapalayathamman Koil Lanes: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil East Street: Rs 2,200 per sq.ft (2024)
• Periapalayathamman Koil 8th Lanes: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Periyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periyar Street?

The Sub Registrar Office that covers Periyar Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Tondaiarpet

When buying or selling property in Tondaiarpet, the guideline value is a critical factor in determining the stamp duty and registration fees. It serves as a benchmark for the official valuation of the property, which is used during the registration process.

The guideline value helps in ensuring that the transaction is recorded accurately and that the appropriate taxes are levied. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of their property.

Frequently asked questions

What is the current guideline value of Periyar Street?

The current guideline value of Periyar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Periyar Street?

Periyar Street is classified under Residential Class II Type - I land classification.

What are the stamp duty and registration fees for a property in Periyar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would be Rs 1,17,000.

Which office handles the registration for Periyar Street?

The registration for Periyar Street is handled by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.